The Smithville Mayor and Board of Aldermen approved a new budget ordinance on second and final reading during a special meeting last week at city hall. While the budget for the coming fiscal year totals $6,642,988, the property tax rate will remain the at 64.9 cents per $100 of assessed value, and water and sewer rates will remain the same as well. City water customers will still pay $5.00 per thousand gallons, while rates for customers outside the city limits will remain at $7.50 per thousand gallons.